The Cost of Doing Nothing

When we’re faced with a deci­sion to make, we usu­al­ly spend time ana­lyz­ing the pros and cons. Research tells us that we’re more moti­vat­ed by fear of pain, loss and the down­side of things than the ben­e­fits or pos­i­tive rea­sons do something.

When a group of CEOs, exec­u­tives and advi­sors and I talked about this in a recent con­ver­sa­tion, some­one shared anoth­er option: the idea that, instead of doing some­thing, we do nothing.

Rarely do we ana­lyze what would happen.

Quick Con­text

So, here’s a sim­ple ques­tion to con­sid­er for a sit­u­a­tion you’re in:

If I do noth­ing, what’s it going to be like in five years?

The answer quick­ly gives you con­text. Will there be a seri­ous impact, or none?

Tak­ing it fur­ther, if you’re still unsure, ask:

What would be the best-case sce­nario? How like­ly is that?

What would be the worst-case sce­nario? How like­ly is that?

These ques­tions are good for any sit­u­a­tion: deci­sions about key employ­ees, cus­tomer invest­ments or finances, health and relationships.

So, instead of just look­ing at the pros and cons, con­sid­er what could hap­pen if you made no deci­sion at all. Could be interesting!

The Chal­lenge

• Instead of just think­ing about the pos­i­tives or neg­a­tives about doing some­thing, think about the mag­ni­tude of not doing anything.

Addi­tion­al Podcasts

• How to Struc­ture Pre­sen­ta­tions & Ensure Deci­sion Making

Addi­tion­al Blogs

• The Art of Deci­sion Making
• Strate­gic Lead­er­ship vs Tac­ti­cal Deci­sion Making
• Do You Have a Debate Deficit or a Deci­sion Deficit – or Both?
• Up to Speed with Deci­sion Making

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